UBS AG has reiterated its "Buy" rating for Mercedes-Benz Group, with a target price of 72 euros, following the company's quarterly results.

According to analyst Patrick Hummel, the car division's profitability met UBS's expectations but fell short of consensus estimates. However, the company reported strong free cash flow and confirmed an improved outlook for the fourth quarter.

In terms of trading, Mercedes-Benz Group's shares experienced a decline, dropping 2.7 percent to EUR 56.78 in XETRA trading. This price represents a potential upside of 26.81 percent compared to the target price. Since the beginning of 2024, the stock has seen a slight decrease of 1.6 percent.

The company is scheduled to announce its Q3 2024 results on October 25, 2024.